Indian shares are likely to open on a flat note Thursday, tracking mixed global cues as traders looked ahead to the release of U.S. employment data for clues as to when the Federal Reserve may pare stimulus.
Benchmark indexes Sensex and the Nifty ended a tad lower on Wednesday to snap a three-day record-breaking streak while the rupee snapped its four-session winning run to close 8 paise lower at 73.08 against the greenback.
Asian markets were broadly lower this morning as the spread of new COVID-19 variants posed downside risks to growth.
Signs of a slower U.S. labor market recovery weighed on the dollar and benchmark U.S. 10-year Treasury yields held around 1.30 percent, while oil prices fell in the wake of a relatively harmonious OPEC+ decision to gradually return supply to the market at a time when coronavirus cases around the world are surging.
U.S. stocks ended narrowly mixed overnight as disappointing private payrolls data supported the case for dovish monetary policy. U.S. factory activity grew in August, but still battled logistics and price woe, another report showed.
The Dow slipped 0.1 percent and the S&P 500 ended flat, while the tech-heavy Nasdaq Composite edged up 0.3 percent to hit a new record closing high.
European stocks closed mostly higher on Wednesday as hopes for more stimulus offset signs of acceleration in euro zone inflation.
The pan European Stoxx 600 rose half a percent. The German DAX slipped marginally, while France’s CAC 40 index rallied 1.2 percent and the U.K.’s FTSE 100 gained 0.4 percent.
Sensex, Nifty Seen Opening Flat On Mixed Global Cues
2021-09-02 02:53:26
